Oil prices rose this evening as optimism about US economic growth, anxiety about Iran's nuclear programme dispute with the West and unrest in Nigeria provided a boost for crude despite continuing concerns about Europe's economy.
Brent crude rose 93 cents to $113.38 a barrel. US crude rose $1.46 to $102.77.
A day after Iran's confirmation that it has started enriching uranium deep inside a mountain, EU governments agreed to move up a week to January 23 a meeting of foreign ministers expected to decide on an embargo of Iranian oil.
On the heels of last week's brighter US employment data, economic optimism added support for oil prices as US stocks hit a five-month high after strong import data from major copper consumer China and a bullish forecast by Alcoa pointed to a stronger global economy.
Potential supply risks also loomed in Nigeria, where trade unions began a second day of strikes to protest the removal of fuel subsidies, though the strike has so far not affected oil shipments from Africa's largest exporter.
China's exports and imports grew at their slowest pace in more than two years in December, though crude imports were up 5% in December year-on-year. A slowdown in China's trade growth raised some concern about the economy of the world's second-largest oil consumer.
